Financial Collateral Directive: Difference between revisions

The {{tag|Financial Collateral Directive}} ({{eudirective|2002|47|EC}}) is a well-intended piece of {{tag|EU Regulation}} that, by common consent, didn't quite achieve what it set out to, which was to introduce "a Community framework to reduce credit exposure in financial {{tag|collateral}} arrangements. These common rules contribute to the effectiveness and integration of European financial markets, reducing credit losses and thereby stimulating cross-border transactions and competitiveness."

While this is no doubt intended to help, given that, in the final analysis, the person likely to challenge that analysis would be a competing creditor, and the person who would be arbitrating on it would be a liquidqator, if an arrangement were not formally within the definition, then the fact that the parties agreed it was intended to be probably wouldn’t.

===What it does===

*'''Portugal''': It was adopted by {{tag|Portugal}} in July 2004 (see in depth article [http://www.internationallawoffice.com/newsletters/Detail.aspx?g=9e05b76f-2448-4878-8fff-a0bdd7464388 here])

*'''UK''': It was adopted by the UK under the [[Financial Collateral Arrangement (No.2) Regulations 2003]], fondly known to all as the [[Financial Collateral Regulations]].